CBOT Close


November soybeans ended 3 cents lower at USD10.54; December soymeal ended USD2.40 higher at USD292.30; December soyoil settled 38 points lower at 43.45. The market recovered somewhat from heavy losses late last week as current levels flushed out some buying interest. A public holiday in China this week however means that interest from that quarter could be limited this side of the weekend. A firmer dollar added a bit of pressure.


December corn ended 5 3/4 cents higher at USD4.71 1/2; March corn closed 4 3/4 cents higher at USD4.83. Futures rebounded from recent heavy losses, encouraged by corn's inability to take out the key USD4.50/bushel level. The market is still coming to terms with Friday's surprisingly bearish stocks data from the USDA however, and looks set to remain cautious ahead of more data from the same quarter due this Friday.


CBOT December wheat ended down 7 3/4 cents at USD6.47 1/4; KCBT December wheat fell 6 1/4 cents to USD6.83; December MGEX wheat fell 10 1/4 cents to USD6.95 3/4. Egypt passed on US wheat in a weekend tender, picking up 240,000 MT of French and Canadian wheat instead. Improved weather conditions in the Canadian Prairies this past week saw harvesting advance from 34% complete to 56% done. Russia seems to have moved from summer to winter very quickly with a weekend freeze in the Volga and upper Black Sea wheat growing areas.